¹FOR FIXED RATE LOANS: The ANNUAL PERCENTAGE RATE you receive for the fixed rate loans may be as low as the rate listed above. New Automobile rate as low as 4.74% for a term of 36 months. Used Automobile rate as low as 5.00% for a term of 36 months. The rate includes a 0.25% discount for new and used vehicles financed with a loan-to-value (LTV) ratio of 80% or less, and an additional 0.25% discount for vehicles with an extended warranty purchase through MPSCU. Advertised rates are subject to change without notice. The actual rate and guidelines may vary based on creditworthiness, collateral, loan term and other factors. All loans are subject to approval. MPS Credit Union membership is required. Membership is open to anyone who lives, works, or worships in Miami-Dade, Broward, Palm Beach, Monroe, Martin or St. Lucie Counties. Membership is also available to immediate family of current members, regardless of where they live. Other restrictions may apply..

²FOR VARIABLE RATE SHARE SECURED: The ANNUAL PERCENTAGE RATE (APR) for existing balances and new advances for share-secured advances will be determined by adding the amount shown above in the "% Above Index" column to the Index. The Index is the dividend rate being paid on regular shares. The rate is subject to change quarterly to reflect any change in the index. Any increase in the APR will take the form of more payments of the same amount.

CONSUMER LOAN LATE CHARGE: If you are 15 or more days late, you will be charged 5% of the monthly payment not to exceed $20.00.

COLLECTION COSTS: You agree to pay all costs of collecting the amount you owe under this Agreement, including court costs, reasonable attorney fees and the costs of any appeal by the credit union.

Paying Interest: Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay the entire balance by the monthly due date. We will begin charging interest on cash advances and balance transfers on the transaction date.

For Credit Card Tips from the Consumer Financial Protection Bureau: To learn more about the factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore.

Transaction Fees: Foreign Transaction Fee – 2.00% of each transaction in U.S. dollars.

Penalty Fees: Late Payment Fee – Up to $30.00. Returned Payment Fee – Up to $35.00.

How we will calculate your balance:  We use a method called "average daily balance (including new purchases)."

Effective Date: The information about the costs of the cards described in the application is accurate as of September 1, 2019. This information may have changed after that date. To find out what may have changed, call us at 800.782.3630 or write us at MPS Credit Union, PO Box 520622, General Mail Facility, Miami, FL 33152-0622

Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in your account agreement.

For loan amounts between $10,000.00 and $24,999.00 member pays closing cost.
For loan amounts between $25,000.00 and $250,000.00 credit union pays closing cost.
However, if the loan is satisfied within TWO years of acquisition, the member shall be charged a Pre-Payment Penalty totaling the amount of the closing cost.
For the Fixed-Variable Rate Program if the loan is satisfied within THREE years of acquisition the member shall be charged a Pre-Payment Penalty totaling the amount of the closing cost.

FIXED RATE & ADJUSTABLE RATE COMBINED LOAN-TO-VALUE

• 80% of appraised value when added to existing 1st mortgage balance on Single Family Homes
• 75% of appraised value when added to existing 1st mortgage balance on Fixed Variable rate.
• 75% of appraised value when added to existing 1st mortgage balance on Townhouses.
• 75% of appraised value when added to existing 1st mortgage balance on Condos & Duplexes.

HOME EQUITY FIXED: The maximum maturity shall not exceed ten years, and the minimum loan amount shall be $10,000.00 and the maximum loan amount shall not exceed $250,000.00 providing there is sufficient equity on the property. Rates are subject to change at any time without notice.

¹HOME EQUITY VARIABLE: The ANNUAL PERCENTAGE RATE is based on the Prime rate as of the day of closing, as set forth in the WALL STREET JOURNAL. The rate may be adjusted either up or down quarterly. However, the floor is 4.00% and the yearly cap on the loan is 4.00% per year. The interest rate shall have a ceiling of not more than 18% over the life of the loan. The minimum loan amount shall be $10,000.00 and the maximum $250,000.00. The initial advance shall be in the amount of $5,000.00; with a minimum of $1,000 for each subsequent advance.

²HOME EQUITY FIXED-VARIABLE: The ANNUAL PERCENTAGE RATE shall be fixed for the first three years of the loan. After the three years the loan becomes variable and it is adjusted quarterly the same as "THE HOME EQUITY VARIABLE PROGRAM". The total loan term shall not exceed 15 years and the minimum loan amount shall be $25,000.00. The pre-payment penalty applies for loans satisfied within the first three years of acquisition. Maximum Combined Loan to Value shall not be more than 75%.